New Delhi,
The government will revamp the Gold Monetisation Scheme and come out with a comprehensive policy on the precious metal, Finance Minister Arun Jaitley said on Thursday.

The revamping of the scheme is aimed at enabling people to open a hassle-free gold deposit account.

The minister said the government would establish a consumer-friendly and trade efficient system of regulated gold exchanges in the country.

“The government will formulate a comprehensive Gold Policy to develop gold as an asset class,” he said, adding, “Gold Monetisation Scheme (GMS) will be revamped to enable people to open a hassle-free gold deposit account.”

In 2015, the government launched the GMS with the objective of mobilising the gold held by households and institutions in the country.